I've been thinking for a while about the changing demographics in the US and then was sitting at a meeting yesterday when some demographic numbers were mentioned.
One was that the number of people living in my state over 65 years old is 677,270 as of 2010. That number is expected to grow to 1,133,920 by 2025 and 1,400,960 by 2035. Huge increase! I live in a cold state, so obviously some of those people who have the means may relocate to warmer states, but a large percentage of the population won't have that chance.
I've been thinking a lot about my aging mother who lives in another state that I'll definitely need to take care of because she's not in great health, nor does she have any money. But at this point I don't have the financial means to do so. I hope to in the future, but again, there must be many people who will have to take care of their parents and not have the means.
It seems to me there are a lot of people in this same situation throughout the US (and probably the world) and we have a problem. I'm now thinking about how to solve that problem and fill that need.
I know there are elder care facilities and companies that assist the elderly, but I'm thinking many people would love something that is a hybrid between full 24 hour care of your parent and letting them live 100% independently. Now if I could just figure out what that is and price it affordably for the masses...
Thinking out loud here.
PS. The other demographic that was interesting was that Gen Y is actually 5M more people than in the Baby Boomers generation. That means those two groups will make up over 75% of the population in the coming years. Talk about a market!
One was that the number of people living in my state over 65 years old is 677,270 as of 2010. That number is expected to grow to 1,133,920 by 2025 and 1,400,960 by 2035. Huge increase! I live in a cold state, so obviously some of those people who have the means may relocate to warmer states, but a large percentage of the population won't have that chance.
I've been thinking a lot about my aging mother who lives in another state that I'll definitely need to take care of because she's not in great health, nor does she have any money. But at this point I don't have the financial means to do so. I hope to in the future, but again, there must be many people who will have to take care of their parents and not have the means.
It seems to me there are a lot of people in this same situation throughout the US (and probably the world) and we have a problem. I'm now thinking about how to solve that problem and fill that need.
I know there are elder care facilities and companies that assist the elderly, but I'm thinking many people would love something that is a hybrid between full 24 hour care of your parent and letting them live 100% independently. Now if I could just figure out what that is and price it affordably for the masses...
Thinking out loud here.
PS. The other demographic that was interesting was that Gen Y is actually 5M more people than in the Baby Boomers generation. That means those two groups will make up over 75% of the population in the coming years. Talk about a market!
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